McKesson Co. (NYSE:MCK) Stock Position Decreased by MorganRosel Wealth Management LLC

MorganRosel Wealth Management LLC decreased its position in McKesson Co. (NYSE:MCK) by 3.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,902 shares of the company’s stock after selling 63 shares during the quarter. MorganRosel Wealth Management LLC’s holdings in McKesson were worth $1,021,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Sachetta LLC bought a new stake in McKesson in the fourth quarter worth approximately $27,000. Register Financial Advisors LLC acquired a new stake in shares of McKesson in the 1st quarter valued at $29,000. BKM Wealth Management LLC bought a new stake in McKesson in the fourth quarter worth $31,000. Richardson Financial Services Inc. acquired a new position in McKesson during the fourth quarter worth $31,000. Finally, Carolinas Wealth Consulting LLC raised its holdings in McKesson by 42.9% during the fourth quarter. Carolinas Wealth Consulting LLC now owns 80 shares of the company’s stock valued at $37,000 after buying an additional 24 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Activity at McKesson

In other McKesson news, EVP Leann B. Smith sold 600 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $585.53, for a total transaction of $351,318.00. Following the completion of the transaction, the executive vice president now owns 2,022 shares in the company, valued at $1,183,941.66. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other McKesson news, EVP Leann B. Smith sold 600 shares of the stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $585.53, for a total transaction of $351,318.00. Following the completion of the transaction, the executive vice president now directly owns 2,022 shares in the company, valued at $1,183,941.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Leann B. Smith sold 704 shares of the business’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $558.09, for a total transaction of $392,895.36. Following the completion of the sale, the executive vice president now owns 2,215 shares in the company, valued at approximately $1,236,169.35. The disclosure for this sale can be found here. Insiders have sold a total of 25,814 shares of company stock valued at $14,511,649 over the last quarter. 0.11% of the stock is owned by company insiders.

McKesson Stock Down 1.5 %

McKesson stock opened at $584.04 on Monday. The business has a 50 day moving average price of $565.88 and a two-hundred day moving average price of $525.49. McKesson Co. has a 12 month low of $395.30 and a 12 month high of $612.17. The stock has a market cap of $75.89 billion, a price-to-earnings ratio of 26.10, a price-to-earnings-growth ratio of 1.37 and a beta of 0.45.

McKesson (NYSE:MCK) last issued its earnings results on Tuesday, May 7th. The company reported $6.18 EPS for the quarter, missing analysts’ consensus estimates of $6.34 by ($0.16). McKesson had a net margin of 0.97% and a negative return on equity of 245.88%. The firm had revenue of $76.36 billion during the quarter, compared to analyst estimates of $79.32 billion. During the same quarter in the previous year, the company posted $7.19 earnings per share. The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. On average, analysts expect that McKesson Co. will post 31.54 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be given a dividend of $0.62 per share. The ex-dividend date is Monday, June 3rd. This represents a $2.48 annualized dividend and a dividend yield of 0.42%. McKesson’s dividend payout ratio (DPR) is currently 11.08%.

Analyst Ratings Changes

A number of research analysts have recently commented on MCK shares. StockNews.com lowered McKesson from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 18th. Wells Fargo & Company increased their price target on McKesson from $502.00 to $551.00 and gave the company an “equal weight” rating in a report on Thursday, May 9th. Morgan Stanley boosted their price objective on shares of McKesson from $522.00 to $548.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of McKesson from $547.00 to $545.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. Finally, Evercore ISI upped their price target on shares of McKesson from $590.00 to $600.00 and gave the company an “outperform” rating in a report on Wednesday, May 8th. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $590.47.

About McKesson

McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, Prescription Technology Solutions (RxTS), Medical-Surgical Solutions, and International. The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar and over-the-counter pharmaceutical drugs, and other healthcare-related products.